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The Wolverine State iGaming market did not sustain its upward trajectory in April. The Michigan Gaming Control Board reported that the combined revenue of the 15 licensed operators was $192.2 million for April. The revenue numbers reveal a 10% decline compared to March when the 15 Michigan casinos online set a monthly record with $215.2 million.
The Great Lakes State iGaming market has been growing consistently over the past year. That’s evident by comparing the revenue figures from April 2023, when the market generated $159.4 million, to the outcome 12 months later, which, at $192.2 million, signals a 21% increase year-over-year.
Although many analysts were expecting a new monthly record to be achieved in April, the numbers are still encouraging, considering this past April was the second-best month for the iGaming market in Michigan’s 40-month history. Operators are not the only ones having a good month. The state’s treasury and municipalities collected a combined $35.8 million in taxes for April.
FanDuel Casino Retains Its Leadership Position
After FanDuel dethroned BetMGM Casino in March as the best-performing online casino according to revenue, FanDuel managed to retain the reins over the iGaming market in April. The operator took in $50.7 million in bets, beating BetMGM’s $49.8 million.
It’s evident that FanDuel’s performance in March was not a fluke. This operator is gaining traction among Michigan players with its exclusive casino games and no deposit bonus Michigan offers. FanDuel has a reputation as an operator that spends most on player promotions.
The $50.7 million from April brings FanDuel’s lifetime revenue in the Wolverine State up to $1.05 billion since its arrival in January 2021. The only other operator to hit the billion threshold was BetMGM Casino, and its lead is significant at $1.80 billion.
Michigan’s iGaming Market Ranks Second Nationally
In April, the Michigan iGaming market assumed the second position nationally. Pennsylvania is still the national leader with $212.2 million, and the Garden State is third with $187.9 million. Michigan is expected to challenge Pennsylvania for the top position by the end of 2024.
Considering that Michigan operators accumulated more bets in March than Pennsylvania did in April, it seems possible for the Wolverine State to emerge as the best-performing iGaming market in North America in 2024. The market’s value is reinforced by the fact that most software vendors and operators prefer to debut their games in Michigan.
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